Luiz Carlos Trabuco Cappi, CEO Of Bradesco

Combing his unique talents, wisdom, and experience in achieving concrete results, it is no wonder the Luiz Carlos Trabuco Cappi heads Brazil’s largest insurer. Born in Marilia in 1951, Trabuco is the current CEO of the Bradesco Group. Many people regard him as a part of a mythical dynasty. Given Bradesco’s 70 plus year history, he is only the fourth man to occupy the position of president. He is responsible for heading the largest financial empire in Latin America with an asset worth of $900 billion and a 27 million-client base.

A graduate of Sao Paulo’s School of Sociology and Politics Foundation, he holds a postgraduate degree in Socio Psychology. Trabuco began his career at Bradesco at 22 years as a clerk in the company’s first agency. He is the embodiment of the company’s spirit similar to the founder of the insurer, Amador Aguiar. In 2007, he received the Insurance Personality of the Year award for the second time due to his activities in restoring confidence in Brazil’s insurance sector. He has been part of the Bradesco Group for 40 years excelling in all previous assignments. Trabuco has managed to apply his extensive experience and knowledge of the banking industry into the insurance sector. For instance, he favors a segmentation approach that sells insurance through brokers.

Luiz Carlos Trabuco Cappi assumed the presidency at a challenging time in the industry as well as the Brazilian economy. In March 2009, he unequivocally held back from acquiring the number one spot in the sector by allowing Itau Unibanco to assume leadership. His rationale is encapsulated in his sentiment that “Leadership itself is not a goal”. But upon his taking the lead at Bradesco he transformed the company’s fortunes. By gaining the approval of Bradesco‘s chairman he single handedly engineered Bradesco’s acquisition of HSBC’s Brazilian branch for $5.2 billion. With this acquisition, Bradesco became Brazil’s largest insurer. This naturally intensified the rivalry between Itau Unibanco and Bradesco. In an interview with Money, Trabuco intimated that acquiring HSBC would have taken six years of hard work to achieve through organic growth.

He is optimistic about the future of insurance as a critical element for maintaining the country’s social welfare. For Trabuco, the insurance segment is important especially as the country grows in economic power. In this aspect, he keeps close tabs on social indicators of Brazilian social mobility. Accordingly, Trabuco has predicted the entry of over 100 million people into the insurance market by the year 2025. As president of Bradesco Seguros, he is involved in the signing of lucrative business deals with different players. His positivism is evident from his days at university and during the campaign for the nomination of Jesus Christ as the seventh wonder of the world.

In his tenure, the group has expanded its operations and stature attaining new heights. Luiz Carlos Trabuco Cappi embraces and applies a philosophy of organic growth in the pursuit of expansion opportunities. After Bradesco achieved its geographical expansion goal, he focused the company’s sights on banking inclusion. This he plans to accomplish by reaching out to unbanked Brazilians. Bradesco, as a result, grew its account holders from 20 million to 27 million. During busy periods, the bank processes over 6,000 new account applications daily. Likewise, its savings accounts increased from 37.7 million to approximately 50 million. Additionally, he has grown the insurer’s service network within four years. Bradesco has gone from 3,500 to about 5,000 branches and agencies.

Being the president of Brazil’s largest insurer has its benefits. Trabuco enjoyed a close relationship with the country’s former president Dilma Rousseff. President Rousseff had one time offered Trabuco the Finance Ministry, which he declined, which provides a glimpse of his devotion to Bradesco present and future growth.

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